LPL Advisor Daniel Deno Allegedly Misappropriated Customer’s Funds
On November 19th, 2024, Tell City Police reportedly arrested financial advisor Daniel Deno, age 31 of Owensboro, Kentucky, for allegations of fraud and theft, according to WJTS.TV.
Deno who is purportedly affiliated with LPL Financial in Owensboro, Kentucky, reportedly managed the investments of a 73-year-old Tell City resident. Deno purportedly misrepresented the details of his customer’s investments by allegedly requesting the client to hand over a cash payment intended for his own personal benefit.
According to the article, the investigation remains ongoing. Deno is reportedly charged with fraud and theft, both Level 6 felonies. These are only charges and Deno is presumed innocent until found guilty.
FINRA BrokerCheck – Daniel Deno
The FINRA BrokerCheck tool is a free online tool that allows investors to research and verify the background and credentials of financial brokers, brokerage firms, and investment advisors registered with FINRA.
According to his FINRA broker report, Daniel Deno was reportedly registered with FIFTH THIRD SECURITIES, INC. (CRD#:628) OWENSBORO, KY as a broker and investment advisor from 09/24/2020 – 10/04/2022.
Deno’s Securities and Exchange Commission record states that he became employed as a financial consultant with German American Bancorp in October 2022, when he also reportedly became an LPL Financial registered representative.
Regulation Best Interest
Under the “Regulation Best Interest” standard, broker-dealers are required to conduct thorough due diligence when assessing investments. If a financial advisor fails to meet this obligation before making a recommendation, they may be held accountable for any resulting investment losses.
If you experienced financial losses due to an unsuitable investment recommendation, the securities attorneys at The White Law Group may be able to help you. You could potentially recover your losses by filing a FINRA arbitration claim against the brokerage firm responsible for selling the investment.
Free Consultation with National Securities Attorneys
If you have suffered investment losses with Daniel Deno and LPL Financial, the securities attorneys at the White Law Group may be able to help you. For a free consultation with a securities attorney, please call (888) 637-5510.
About The White Law Group
The White Law Group, LLC is a national law firm specializing in securities fraud, securities arbitration, investor protection, and securities regulation and compliance. With offices in Chicago, IL and Seattle, WA, the firm is dedicated to assisting investors across all 50 states with claims against their brokerage firms. Since its founding in 2010, The White Law Group has handled over 800 FINRA arbitration cases.
The firm represents clients in a wide range of securities-related claims, including stock fraud, broker misrepresentation, churning, unsuitable investments, selling away, and unauthorized trading, among others.
With more than 35 years of experience in securities law, The White Law Group has the knowledge and expertise to help investors recover losses resulting from securities fraud.
Last modified: November 26, 2024
